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European socialists triumphant over 'failure of economic egoism'

Madrid - European socialists and social democrats on Monday advocated more government intervention in the economy. The ongoing economic crisis demonstrated the failure of the  economy of egoism  advocated by conservative parties, Spanish Socialist Pa...
Posted : Mon, 01 Dec 2008 12:24:31 GMT
By : DPA
Category : Business
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Madrid - European socialists and social democrats on Monday advocated more government intervention in the economy. The ongoing economic crisis demonstrated the failure of the "economy of egoism" advocated by conservative parties, Spanish Socialist Party deputy leader Jose Blanco told the council of the Party of European Socialists in Madrid.

Some 30 leading politicians, including Spanish Prime Minister Jose Luis Rodriguez Zapatero and recently elected French Socialist Party leader Martine Aubry, were to discuss the first common programme of socialists and social democrats for European elections.

The socialists would win the 2009 elections, because citizens had understood that "governments are the solution," Blanco said.

The council was due to issue a manifesto as a basis for a joint programme linking social and economic efficiency and stressing long- term sustainability through the fight against poverty and global warming.

Martin Schulz, head of the social democratic group in the European Parliament, described "the message of George Bush," the outgoind US president, as having failed politically as well as economically.

German Foreign Minister and Social Democratic chancellor candidate Frank-Walter Steinmeier said the presence of a US Democratic Party delegation at the meeting was a "clear sign" of president-elect Barack Obama's party wanting to cooperate with European socialists, with whom the Democrats were "spiritually related."

Schulz said he did not exclude the idea of US Democrats joining the Socialist International, the worldwide organization of social democratic, socialist and labour parties.

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